Giverny Capital buys $35.4 Million stake in AMETEK (AME)

AMETEK (AME) : Giverny Capital scooped up 414,510 additional shares in AMETEK during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 764,717 shares of AMETEK which is valued at $35.4 Million.AMETEK makes up approximately 7.14% of Giverny Capital’s portfolio.

Other Hedge Funds, Including , Comerica Bank boosted its stake in AME in the latest quarter, The investment management firm added 546 additional shares and now holds a total of 61,210 shares of AMETEK which is valued at $2.8 Million. AMETEK makes up approx 0.03% of Comerica Bank’s portfolio.Penserra Capital Management boosted its stake in AME in the latest quarter, The investment management firm added 240 additional shares and now holds a total of 826 shares of AMETEK which is valued at $38,260. AMETEK makes up approx 0.01% of Penserra Capital Management’s portfolio. Pictet North America Advisors Sa sold out all of its stake in AME during the most recent quarter. The investment firm sold 5,325 shares of AME which is valued $246,654.Liberty Mutual Group Asset Management reduced its stake in AME by selling 142 shares or 1.0% in the most recent quarter. The Hedge Fund company now holds 14,057 shares of AME which is valued at $657,024. AMETEK makes up approx 0.03% of Liberty Mutual Group Asset Management’s portfolio.Pacad Investment Ltd. reduced its stake in AME by selling 8,400 shares or 50.91% in the most recent quarter. The Hedge Fund company now holds 8,100 shares of AME which is valued at $378,594. AMETEK makes up approx 0.04% of Pacad Investment Ltd.’s portfolio.

AMETEK opened for trading at $46.24 and hit $47.115 on the upside on Monday, eventually ending the session at $46.97, with a gain of 1.40% or 0.65 points. The heightened volatility saw the trading volume jump to 18,99,990 shares. Company has a market cap of $10,963 M.

On the company’s financial health, AMETEK reported $0.57 EPS for the quarter, based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus estimate of $0.57. The company had revenue of $944.40 million for the quarter, compared to analysts expectations of $965.26 million. The company’s revenue was down -4.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.63 EPS.

Investors should note that on May 5, 2016, AMETEK announced a cash dividend of $0.0900. The company’s management has announced Jun 14, 2016 as the ex-dividend date and fixed the record date on Jun 16, 2016. The payable date has been fixed on Jun 30, 2016.

Many Wall Street Analysts have commented on AMETEK. Company shares were Downgraded by Robert W. Baird on Apr 29, 2016 to ” Neutral”, Firm has raised the Price Target to $ 51 from a previous price target of $49 .

AMETEK Inc. (AMETEK) is a manufacturer of electronic instruments and electromechanical devices with operations in North America Europe Asia and South America. AMETEK markets and sells its products through two groups: Electronic Instruments (EIG) and Electromechanical (EMG). The Company’s EIG segment designs and manufactures advanced instruments for the process aerospace power and industrial markets. It offers process control instruments for the oil and gas petrochemical pharmaceutical semiconductor and factory automation industries. The Company’s EMG segment offers electrical connectors and electronics packaging used in aerospace and defense medical and industrial applications as well as its advanced technical motor and motion control products which are used in a range of medical devices office and business equipment factory automation robotics and other applications.

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